CanaFarma Hemp Products Corp. Announces Filing of Annual and Interim Reports and Revocation of FFCTO

VANCOUVER, BC / ACCESSWIRE / February 6, 2021 / CanaFarma Hemp Products Corp. (CSE:CNFA) (the "Company") has filed its audited annual financial statements for the year ended June 30, 2020, the related management's discussion and analysis and CEO and CFO certifications (the "Annual Filings") and its unaudited interim financial statements for the three months ended September 30, 2020 and the related management's discussion and analysis and officer certifications (the "Q1 Filings").

On January 12, 2021, the Company was issued a failure to file cease trade order (the "FFCTO") from the British Columbia Securities Commission (the "BCSC") as a result of the Company's delay in filing its Annual Filings within the deadline set forth in National Instrument 51-102 - Continuous Disclosure Obligations. As a result, the FFCTO prohibited the trading by any person of any securities of the Company in Canada, including trades in the Company's common shares made through the Canadian Securities Exchange (the "CSE").

As the Company has now filed the Annual Filings and Q1 Filings, the BCSC, as principal regulator, has issued an order revoking the FFCTO and the previously announced management cease trade order imposed against the Company and granted on October 29, 2020, such revocation to take effect on February 5, 2021. The Company has commenced the process for reinstatement with the CSE to resume trading of the Company's common shares. The Company appreciates and thanks its shareholders and interested parties for their patience until this process is completed after which the Company will make an announcement of the resumption of trading of the Company's common shares on the CSE.

About CanaFarma Hemp Products Corp.

CanaFarma Hemp Products Corp. is a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market. These products and services include growing top-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a well-established direct-to-consumer marketing approach.

For further information, please contact:

CanaFarma Hemp Products Corp.
David Lonsdale
Chief Executive Officer
Tel: + (214) 704-7942
Email: [email protected]

Forward Looking Statement

This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as "may", "would", "could", "will", "likely", "except", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate", "outlook", or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to the reinstatement and/or trading of its common shares. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information and other related risks as set out in the Company's public documents filed on SEDAR. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: CanaFarma Hemp Products Corp.